Indonesia’s annual economic growth eased slightly to 4.97% in the fourth quarter (Q4) of 2019 from 5.02% in the previous three-month period. That was the weakest pace of expansion since the fourth quarter of 2016, as investment (4.06% vs 4.21% in Q3), household consumption (4.97% vs 5.01%) and government spending (0.48% vs 0.98%) all rose at a slower pace.
Net external demand contributed positively to the GDP growth as exports fell 0.39% (vs 0.10% in Q3) while imports dropped at a faster 8.05% (vs -8.30%). On the production side, output growth slowed mainly for: mining (0.94% vs 2.34%); manufacturing (3.66% vs 4.14%). On a quarterly basis, the economy shrank 1.74% in Q4, compared to a 3.06% expansion in Q3. Considering full year 2019, the economy expanded 5.02% from a year earlier, compared to a 5.17% growth in 2018.
